July 31, 2020 / 8:42 PM / 14 days ago

CORRECTED-Fitch cuts outlook on U.S. to 'negative' from 'stable'

(Corrects to say outlook cut to “negative” from “stable” in paragraph 1)

July 31 (Reuters) - Ratings agency Fitch on Friday cut its outlook on the United States to “negative” from “stable”, citing deterioration in the country’s public finances and the absence of a credible fiscal consolidation plan.

It affirmed its “AAA” rating on the country.

“There is a growing risk that U.S. policymakers will not consolidate public finances sufficiently to stabilize public debt after the pandemic shock has passed,” Fitch said in a statement. (Reporting by Nishara Karuvalli Pathikkal in Bengaluru; Editing by Anil D’Silva)

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